Dubai-based private equity firm Abraaj Group is acquiring a majority stake in hospitals chain CARE India from global PE firm Advent International..Khaitan & Co acted for Abraaj Group with a team led by Partners Haigreve Khaitan and Aakash Choubey along with Principal Associate Pooja Patel and Associates Tanushree Bhuwalka, Vinita Choudhury, Siddharth Anand, and Shreya Dua..Executive Director Daksha Baxi along with Principal Associate Ritu Shaktawat advised on direct tax aspects..Wadia Ghandy & Co represented Advent, Promoters and Quality Care with a team led by Partners Ashish Ahuja and Fariyal Tahseen..The deal was struck at an enterprise value of about Rs 1,800 crore ($270 million) for Quality Care India. Abraaj is buying a 72 per cent stake from Advent for about Rs 1,300 crore ($195 million) and is also picking up part of the stake of the hospital chain’s founders, reports VCCircle.
Dubai-based private equity firm Abraaj Group is acquiring a majority stake in hospitals chain CARE India from global PE firm Advent International..Khaitan & Co acted for Abraaj Group with a team led by Partners Haigreve Khaitan and Aakash Choubey along with Principal Associate Pooja Patel and Associates Tanushree Bhuwalka, Vinita Choudhury, Siddharth Anand, and Shreya Dua..Executive Director Daksha Baxi along with Principal Associate Ritu Shaktawat advised on direct tax aspects..Wadia Ghandy & Co represented Advent, Promoters and Quality Care with a team led by Partners Ashish Ahuja and Fariyal Tahseen..The deal was struck at an enterprise value of about Rs 1,800 crore ($270 million) for Quality Care India. Abraaj is buying a 72 per cent stake from Advent for about Rs 1,300 crore ($195 million) and is also picking up part of the stake of the hospital chain’s founders, reports VCCircle.